Company Profile

Ghana National Education Campaign Coalition (GNECC) is a network of civil society organizations, professional groupings, educational/research institutions and other practitioners interested in promoting quality basic education for all. Our mission is to influence policy towards providing equal educational opportunities for all children irrespective of their economic, social, religious, geographical background or disability.

GNECC is currently funded by Education Out Loud/OXFAM DENMARK. 
The fund supports advocacy for quality, free and inclusive pre-tertiary education for all Ghanaian children.

Job Description

PURPOSE
The overall purpose of this assignment is to conduct an external audit of the OC1.3 EOL grant agreement for its entire implementation period. As part of the audit the auditor will examine the organizational structure, existing procedures with special focus on governance, accounting practices, financial management, internal control, fraud, bribery and corruption; risk management. In that regard, a Due Diligence Assessment will be carried out and the auditor will assess its consistency while performing the organizational structure and procedures’ examination.

OBJECTIVE
The objective of this audit is for the auditor to verify:

• The objective of the audit of the GRANTEE financial statements is to enable the auditors to express an independent professional opinion on the financial position of GRANTEE and to verify that the funds allocated for activities funded by the Education Out Loud (EOL) initiative have been utilized in accordance with their intended purposes. 
• The GRANTEE’s financial statements are prepared based on its maintained books of accounts, which comply with legal requirements. The GRANTEE has ensured the maintenance of proper books of accounts, adequate internal controls, and comprehensive supporting documentation for all transactions.

SCOPE OF AUDIT

• The scope of audit is the project audit of the EOL grant agreement for the 2024 calendar year. The organisation management must provide the auditor access to the grant agreement and all related documents (annexes, reports, and any other relevant documents that the auditor may deem important to the audit). 
• The audit of financial transactions will involve a thorough examination of the quality of voucher materials and their accurate recording in the financial records, with a focus on assessing their relevance, significance, and associated risks. 

The auditor shall verify: 

1. That the accounts and reconciliations are correct and accurate and do not contain significant errors or omissions 
2. That the financial provisions (accounting policies) contained in agreements with local regulations and Oxfam have been complied with 
3. That the transactions comprised by the accounts are in conformity with the conditions and general objectives for the grants as agreed with Oxfam DK and the budget.  

The following are examples of the performance areas that the organisation must practise satisfactorily, and that the auditor will inspect as well as do checks sufficiently. 

1. The procedures and control mechanisms related to approval of vouchers are satisfactory. The approval of a voucher must ensure that the voucher is based on thrift.  
2. Payroll costs for individual staff are reasonable when compared with relevant comparable organisations, salary statistics, established policies and procedures for compliance and other accounting routines. 
3. If the organisation has multiple donors, its shared costs should be reasonably allocated to OC1 when compared with other grants. 
4. Competitive quotations are being obtained in relation to procurement of goods and services. 
5. Available assets are being kept in an appropriate manner and according to rules and regulations. 
6. Project materials and equipment such computers and phones are properly recorded, maintained in Asset register and it is included in annual audit report. 

• Additionally, the auditor will assess and comment on any exchange rate gain or loss generated at the end of the calendar year. 

Due diligence: 

1. The auditors are to assess the grantee’s progress on closing due diligence findings since the last assessment, either by the previous audit or as conducted by the Regional Management Unit.  

Presentation of financial figures in local currency and USD 

1. The financial statement is to be presented in the grantee’s local currency with corresponding figures in USD. As for the foreign exchange rate, EOL has used fund transfer rate for reporting, fundamentally the FIFO method.  

Languages 

1. The audit report is to be submitted in English and in other official or business language, such as French, Spanish or Portuguese as applicable. 

Legal barriers to making financial documentation available online 

1. EOL would like the auditors view of whether there is anything preventing EOL demanding from grantees to make financial documentation available online, such as in a cloud storage solution. The grantee can continue to keep a hard copy archive, which is very likely also demanded by national law. 

• The organisation’s management is required to provide the auditor with any information that may be considered material for assessment of the accounts and of the organisation’s administration of the grant. Similarly, the organisation management should provide the auditor access to initiating any other examination that s/he considers necessary and ensure that the auditor receives the information and assistance needed for performing the audit. 

Audit Duration

• The audit work shall be completed within 3 weeks of commencement date, and deliverables presented within 5 business days thereafter.

Audit Deliverables

• The Auditors on completion of the audit work will submit 2 (two) original copies of the Audit Report 
• appended to the Financial Statements along with the reports.  
• Management letter in accordance with the scope of work described here in the TOR.  
• The auditor's statement must be issued in accordance with the ISA 700 or 800 (Revised).

Timing

• The planned deadline for submission of the proposal is 10th  January, 2025.

Reporting and Management
The audited accounts must carry the auditor’s statement (audit report), stating that the accounts have been audited in accordance with the stipulations and guidelines in the present ToRs. The endorsement must also comprise the auditor’s qualifications in a management letter, if any.